Reduced AMEX earn rates from April 2019

[jinks485]

There's a page on Amex's website now about the changes: Your Rewards are changing

 

[SOPOOR]

Amex says it’s had to close the gap between the merchant fees it charges and those of its competitors, and this is one of the main reasons for the devaluation.
I've certainly noticed Amex acceptance go up a lot recently (and without surcharges).

I too have read that explanation,
however, amex in the past have differentiated themsevles by being the premium product, now they are virtually identical to visa overall,

so i doubt theyve dropped their merchant fees down to amex as well,

so if I was a business I would be voting with my feet

 

[theblank]

Well there is no way we didnt see this coming. Amex Plat Edge currently paying 6x actual FF points for dollar at supermarkets than most Visa/MC, that was never going to last forever.

The silver lining i see in this cloud is that I might be tempted to play the signup game with Amex and cancel/wait/signupbonus/repeat
until now I have maintained the Plat Edge as a keeper.

Like anything, nothing lasts forever. So reassess, change, and make the best of what we can get. After all the points still are literally free money

 

[Bell21]

SPG can't convert to QF though.

Actually I believe spg / marriott does now have QF as transfer partner (but haven't checked since QF was supposedly added to Marriott partners)

 

[Bell21]

disaster....

After April 2019, better convert MR points to SPG as the rate is 3:2, then SPG to airlines with 1:1

Agree plus the bonus when transferring from spg to airline partners if I recall correctly

 

[jinks485]

Amex Explorer has added access to the Hotels Collection: US$75 credit and room upgrade, though the range of hotels is modest.
A small consolation for card members lol
Also a 100k offer has just launched - could be the last chance before the deval!
The Explorer Credit Card | AMEX Australia

 

[wxxnxs]

DJ amex will have the same earning rate but conversion rate will be affected?

As DJ points concert directly to MR?

DJ cards earning scheme is not changed as this stage, and the conversion rate to airlines programs have been always 2:1, so put that in simple, other AMEX programs are devalued to the same ratio as DJ cards.

 

[Mr_Orange]

I'm done with Amex, I think.

My card renewals come up in May/June next year so I'll continue earning up until then, transfer all my points to QFF to use on domestic J, and then cancel.

Primary and only credit card will then be the HSBC Premier Mastercard with zero annual fee.

I'm fed up with the annual fees, devaluations, lack of Amex acceptance, hassle of using the travel credits and am also tiring of chasing the statement credits to offset the cost of the annual fee.

Time to destress and stop worrying about all ths carp!

 

[SeaWolf]

Amex Explorer has added access to the Hotels Collection: US$75 credit and room upgrade, though the range of hotels is modest.
A small consolation for card members lol

I'm surprised they didn't try to throw in a few more small consolations like this. Stuff like eliminating foreign currency fees, reducing annual fees or extra bonuses included with the card could have gone a long way to smoothing things over.

EDIT: I just looked at the T&C's for the US$75 credit and they're pretty restrictive.

1. The eligible Card Member will receive the credit as a deduction from the final hotel bill when checking out of the hotel; they will receive $1 for each eligible dollar spent up to US$75. Eligible spend includes dining, spa and resort activitiest
   1. Eligible spend does not include charges for taxes, gratuities, fees and cost of room.

 

[Mr_Orange]

There is also the current 45% bonus offer for transferring points to QF before end Nov .... much thinking to do.

Thanks for the reminder. I would only qualify for a 25% bonus, but I might as well take that now and then transfer any remaining points earned before the deadline prior to closing all Amex accounts.

It's a bit like the end of the xASA all over again .

 

[cove]

I am maxed out on Platinum Edge but the payment should go thru today. Yes this card is quite generous so I will run it hard until the change hits.

 

[Bell21]

Thanks for the reminder. I would only qualify for a 25% bonus, but I might as well take that now and then transfer any remaining points earned before the deadline prior to closing all Amex accounts.

It's a bit like the end of the xASA all over again .

? what does xASA stand for? (ansett?)

 

[Mr_Orange]

? what does xASA stand for? (ansett?)

The old Qantas Any Seat Awards where x = F or J.

 

[AviationNZ]

The silver lining i see in this cloud is that I might be tempted to play the signup game with Amex and cancel/wait/signupbonus/repeat
until now I have maintained the Plat Edge as a keeper.

I'm exactly the same. Have kept the Plat Edge purely due to day-to-day earn, whilst having my wife do the churn with Amex. My loyalty to Amex is now gone due to these changes and I'll be churning for all banks/cards.

 

[Bell21]

Agree plus the bonus when transferring from spg to airline partners if I recall correctly

I have to disagree with my earlier post (!), in which I agreed with jasonfungsing that better to transfer points to SPG post April 2019. As i understand it (and it gets a bit complicated), it's actually 3 AMEX : 2 Marriott points, which then gets transferred 3 : 1 when doing an airline transfer - so even though there is a 5000 bonus when transferring 60000 points from Marriott to airline partners, the AMEX/Marriott transfer rate to airlines (ie, 1 AMEX : 0.28 'airline' points) is still worse than the new devlaued AMEX to airline transfer rate (1 AMEX: 0.5 airline points) - if my numbers are wrong, very happy to be corrected!

I should be working, but today's AMEX news is too distracting...

 

[Kramerica]

Is this the beginning of the end for Amex in Australia?

I'm glad I have my US-based Amex cards. With no foreign transaction fees I might be better off using them for my Australian spend rather than the local Amex cards.

 

[Dr Ralph]

Is this the beginning of the end for Amex in Australia?

Nope.

 

[kpc]

For those hoping / relying on big sign up bonuses, given the up to 50% devaluation in TFs to airlines, the bonuses need to be twice as many as before e.g. 220000 pts for the Amex Explorer to be of similar value to previously, and I really can't see that happening.

My plan is to make as much hay as possible whilst the sun is still shining (April next yr), then will need to explore my options

 

[Mr_Orange]

Nope.

Maybe not, but they need to start providing better value.

The annual fee went up and we got some compensation which may or may not be of value depending on your personal circumstances and preferences.

This is now a major points devaluation with no upside to compensate.

 

[Bell21]

Thankfully, I get great value from the benefits on the Platinum, so can still make an argument to keep it (and it will be, along with the Edge, one of the better non-airline aligned AMEX cards post April), but the armada of AMEX cards will be cut in half...